2023 Investor Spotlight
Accelerating the world's path to net zero
ExxonMobil is growing its Low Carbon Solutions business to help accelerate progress toward reaching society’s net-zero goals. In a presentation to investors, Chairman and CEO Darren Woods and Dan Ammann, president of Low Carbon Solutions, said ExxonMobil could deliver emissions-reduction solutions at a scale that matters.
- Our ambition is for exponential growth in our Low Carbon Solutions business in the coming years, as demand expands for products and services like carbon capture and storage, hydrogen and biofuels.
- We’re focused on the hardest-to-decarbonize sectors, including heavy industry, commercial transportation and power generation, which together account for 80% of global energy-related CO2 emissions.
- Our Low Carbon Solutions business can help our customers significantly reduce their emissions. Current planned projects could abate about 20 million metric tons of CO2 per year, and with our pipeline of potential new projects, we could abate nearly four times as much.*
- One such project is our new hydrogen facility in Baytown, Texas. Site work has begun on what will be the world’s largest low-carbon hydrogen producer at startup in 2027-28.
- We also continue to make progress on our own emissions goals. We’re on track to reduce corporate-wide greenhouse gas emissions intensity (Scope 1 and 2) from our operated assets by 20-30% by 2030 compared to 2016.
Click here to learn more about ExxonMobil’s solutions to help industrial customers reduce emissions.
*CO2 emissions figures are estimates only. Actual reductions may vary. Projects (including the Baytown hydrogen project) are at various stages of maturity and remain subject to final investment decision by the corporation.